Member Info for JMAX

If RG had real faith he would be putting millions in to save his original 'investment'.

Why are Sam and Azvalor not buying. A few years back, someone on here refered to the later as being big time mug punters.

SC,

They need to get the right person and now Kenya has been given away what scope with the new CEO have....

If the board had any faith then they would be buying shares. All politicians are puppets.

Total assets 4.05B

Total liabilities 4.32B

Where does the profit go...........

' Fingers crossed they fixed whatever was broken during the shutdown'.

If the up time is about 97% and production is down - this would mean that they are extracting much more water than oil - very concerning.

Do we know what the current water-cut percentage is ?

Also, what will the new CEO have to work with. Without further information, I would not be against selling completely out of Kenya.

T-boi,

Who called sell at 39p, did you follow that advice :)

Would shutdown maintenance resolve water cut issues......

Refinancing isn't solely based on production - the oil is in the ground, they just aren't extracting it quick enough at the moment. Furthermore, the seismic data could increase the 2P reserves.

TLW should look at selling their stake in the Kenya project - the GOK would be up for this.

It could be that the GOK get 22%, then they get a further percentage from Gulf Energies share ?

Originally the Kenyan gov were taking 22% - but this is from the last RNS '· Tullow retains a back-in right for a 30% participation (before Government back-in) in potential future development phases at no cost.

More info needed.

It influences the time factor and - if we go through a period of very low oil prices then more of the 500m plus barrels of oil get consumed to pay their expenses.

Gulf Energy need to recoup about $3.5B in costs first.

'Sell in May and go away' is just a saying as the markets can be quieter in the summer months. I was just happy to sell a couple of tranches and take some profits here.

J Bond,

I would say 8 years and 2033, is stated in the RNS for the final $40m. An increase in the Ghana 2P reserves is more important at this time.

The $1.2B is on the low side. The first $40m needs to land with TLW, then the market will start to wake up to the thought that this project will happen.

TLW are selling Gabon, which has about 36M boe for $300m ?

So on this basis and estimating costs - once their 30% of Kenya kicks in , this stake will be worth over $1.2B.